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Oil Cuts Will Continue to Stabilize Market: Saudi Minister

Saudi Arabia's Energy Minister Khalid al-Falih said on Wednesday he was confident that cooperation between the Organization of the Petroleum Exporting Countries (OPEC)and its non-OPEC allies will continue to stabilize oil markets.

"I am confident that our high degree of cooperation and coordination will continue and bring the desired results," Falih told an industry conference in Riyadh attended by Russian Energy Minister Alexander Novak and OPEC Secretary General Mohammad Barkindo.